Jigsaw24, the Creative IT solutions business backed by private equity firm NorthEdge Capital, has acquired Matrix Software Development Limited (“Matrix”).
Matrix, based in Knutsford, provides a Master Data Management software application (“Matrix CMS”) that integrates product management and publishing software solutions. Predominantly for retailers, its clients include Next, Maplin, Go Outdoors and Boden. The business’ core software product, Matrix CMS, complements Apple and Adobe and, as a result, is expected to see substantial growth under Jigsaw24’s ownership.
Jigsaw24, based in Nottingham with operations in Manchester, has recently opened a new flagship Customer Experience & Service Centre in Soho, London, and is the UK’s largest B2B reseller and integrator of creative technologies based around Apple computer systems and Adobe software, with a focus on the Creative & Education markets. The company, founded in 1992, has demonstrated strong year-on-year growth and has capitalised on the increasing popularity of Apple products, mobile devices and development of associated apps for the workplace.
The transaction follows the purchase of B2B reseller Square Group in June this year, which saw Jigsaw24 group turnover exceed £80m. The acquisition of Matrix further builds on the company’s strategy to increase its level of higher margin, recurring software related services and sales.
Martin Balaam, CEO of Jigsaw24, commented: “Matrix is a perfect fit for Jigsaw24, with a software product that sits well with Adobe and Apple and complements our existing range of services and our Creative customer base. Furthermore, with the support of Jigsaw24’s sales and marketing team we are confident that future sales of Matrix’s software can be significantly enhanced.”
Nick Speakman, Managing Director of Matrix Software Development Ltd, said: “We are extremely pleased to be joining the Jigsaw24 Group and are looking forward to working together with Martin and the team to grow the business further and take Matrix to the next stage of its development.”
Tom Rowley, Investment Director at NorthEdge Capital, said: “The acquisition is the second this year for Jigsaw24, following a sustained period of sales growth for the business. The transaction represents delivery of our commitment to increase the proportion of higher margin support and service revenues both through organic growth and bolt on acquisitions. The purchase of Matrix strengthens Jigsaw’s offering, and puts the business in an enviable position from which to continue its growth.”
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